High Inquiries with Zero Balances

High Inquiries with Zero Balances

Hello all...in your opinions, does the fact that your CR shows zero balances help to negate the negative effects of high inquiries? I'm waiting until January, 2014 to app for BCE and CSP because I have high inquires (10 per CR), but my utilization has been under 3% for the past year. So, would I be flat out denied because of inq even though my debt is ultra-low? Thanks for your input.

Re: High Inquiries with Zero Balances

I was denied for BCP with the 1st reason being the number of recent inquiries (5 in the past year) was too high. I had $2 balance reporting across all my cards (CL of about 13200 then). YMMV. Another big reason why I think I got denied was because of a new auto loan account that just got reported.

Re: High Inquiries with Zero Balances

enharu wrote:

I was denied for BCP with the 1st reason being the number of recent inquiries (5 in the past year) was too high. I had $2 balance reporting across all my cards (CL of about 13200 then). YMMV. Another big reason why I think I got denied was because of a new auto loan account that just got reported.

Thank you for your quick reply, enharu! Yes, this is what I figured; which is why I will wait until January when all my inq will be older than 12 months, and some will fall of completely. Thanks again.

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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.